Final version of new Franchising Code released; Silent on licensing The Australian Government has released the final version of the new Franchising Code of Conduct along with an Explanatory Statement outlining changes to the Code which will take effect from April 1 next year. The new Code will replace the existing Code which… Continue reading Behind the Headlines
Franchisor abandons mortgage broking brand Big Four Australian bank Westpac has closed its mortgage broking brand RAMS Financial as part of a strategic review to simplify the bank’s business, according to a media report. While new home loan applications have been closed, Westpac says customers of RAMS will not be affected by the… Continue reading Behind the Headlines – Jason Gehrke – 12 August 2024
Automotive franchises are a wonderful opportunity for car enthusiasts who want to get into their own business. There are so many automotive related franchise choices, such as car wash, service and repairs, tyres, batteries, tools, car rentals, and the list goes on. While the lure of owning an automotive franchise might sound exciting, remember,… Continue reading 6 Key Strategies For Gearing Up Your Automotive Franchise
All businesses operate in a competitive environment, and times of change can often mean margin squeeze and reduced profitability. Franchise businesses are no different, and sometimes also face their own unique challenges when it comes to what factors might be (or seem to be) outside of the control of the franchisee. That having been… Continue reading Maximising Profitability: Cost Management Strategies for Franchise Owners
Any franchise where staff enter private property to perform their service is at risk of brand damage. For example, what if someone is caught on camera doing something inappropriate?, what if a worker is accused of stealing something? or what if the client alleges that faulty workmanship led to a serious injury? I could go… Continue reading Home service franchises at risk of brand damage
Franchising has been around since antiquity, when Roman law allowed merchants in long-distance trade to sell their wares under another merchant’s name without having to buy them first from the original source. But, it wasn’t until the 1900s that it became a viable business model. The first franchised business was created in 1892 by… Continue reading Future-proofing your franchise in the face of economic uncertainty
When it comes to funding the expenses associated with your business start-up it is sometimes easy to think ‘it’s all the same pile of sand’; you’ve got all your costs (franchise fees, legal costs, equipment, property bond, fitout, stock, working capital) and you’ve got some money to cover those costs (savings, friends & family, investors,… Continue reading I’m starting a Franchise Business – What can I finance?
Home is the new oasis Demand for home services is surging through the COVID-19 pandemic as Australians prioritise their home health. With the home continuing to be the place for work, study and play, we are seeing a change in spending habits while people continue to cocoon at home. Demand for home improvement,… Continue reading HOME COCOONING TRIGGERS EXPLOSION IN HOME-SERVICES FRANCHISE INTEREST
One of the many disruptions caused by COVID-19 is the change in consumer behaviour, which is challenging brand loyalty. The social distancing restrictions and lockdowns, and resulting financial uncertainty, caused many consumers to stop spending money on all but the most essential purchases. This resulted in more than half of Australian consumers changing their usual… Continue reading Maintaining Business Loyalty in a Changing Business Landscape
If someone called you and said they wanted to have a chat to give you some feedback, and you’re like most of the population, you would likely assume the worst. This would be irrespective of your seniority and how much experience you have. We are all a little crazy like that. It’s because we are… Continue reading 3 Warning Signs that You Have an Unhealthy Relationship to Feedback